The Journey to Digital Transformation with David Rogers
Aug 3, 2023
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David Rogers, an expert on digital transformation and a member of the faculty at Columbia Business School, discusses the five barriers that hold companies back from successful digital transformation: vision, priorities, experimentation, governance, and capabilities. He emphasizes the importance of empowering people at all levels of the organization for innovation to happen.
Successful digital transformation requires a clear and unique shared vision as well as prioritizing growth areas and focusing on key initiatives.
Companies should adopt a culture of experimentation, revamp their governance models, and invest in technology, talent, and organizational culture to support digital transformation.
Deep dives
Digital transformation requires a shared vision and growth priorities
For a successful digital transformation, companies need a clear and unique shared vision that is specific to their market, customers, and industry. This shared vision should inspire and engage employees at all levels of the organization. Additionally, companies must prioritize growth areas and focus on a few key initiatives instead of spreading resources too thinly. Many companies struggle with either not having a clear vision or lacking the discipline to prioritize growth initiatives.
Experimentation and flexibility are crucial for digital transformation
To navigate the fast-changing and uncertain digital landscape, companies need to adopt a culture of experimentation. Traditional planning-based approaches are inadequate for digital transformation. Instead, organizations should encourage small-scale, rapid experiments that help validate critical questions and inform decision-making. Moreover, companies must revamp their governance models to allow for more flexibility and adaptation, enabling them to manage well-established core businesses separately from new ventures with their own set of unknowns.
Investing in technology, talent, and culture drives digital transformation
Successful digital transformation requires long-term investments in technology, talent, and organizational culture. Companies should focus on building digital capabilities and infrastructure, such as data assets and digital technologies, to support their transformation efforts. Additionally, nurturing talent throughout the entire employee lifecycle is essential, ensuring they have the skills and mindset necessary for the digital era. Finally, organizations need to cultivate a culture that embraces change, innovation, and experimentation, empowering employees and removing obstacles to enable bottom-up change.
Digital transformation is an ongoing process, not a project
Contrary to common misconceptions, digital transformation is not a one-time project with a specific end date. It is an ongoing process that requires continuous adaptation and evolution. Companies should abandon the notion of ring-fenced projects and instead embed digital transformation into all aspects of the organization. The focus should be on changing the way resources are allocated and redirecting spending to support the transformation. It's important to recognize that digital transformation is a journey that never truly ends.
Welcome to the What's Next! Podcast with Tiffani Bova.
This week I’m thrilled to bring you an episode of What’s Next! Podcast with David Rogers.
David is an expert on digital transformation and a member of the faculty at Columbia Business School. As the Director of Executive Education programs on digital business strategy and on leading digital transformation, he has taught over 25,000 executives through his programs in New York City, Silicon Valley, and online.
He is also the author of five books and is releasing another in September 2023 called The Digital Transformation Roadmap, which follows his landmark bestseller, The Digital Transformation Playbook, which has been translated into over a dozen languages.
THIS EPISODE IS PERFECT FOR… business leaders who want to harness effective transformation and innovation strategies across organizations.
TODAY’S MAIN MESSAGE… 70% of companies attempting digital transformation are failing. David presents the five barriers that are repeatedly holding companies back: vision, priorities, experimentation, governance, and capabilities. Those who confront these barriers head-on will unlock successful transformation.
WHAT I LOVE MOST… the reminder that innovation will not happen without people at every level of the organization being empowered to contribute.